Austria: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Austria

The Austrian worked wax articles market skyrocketed to $X in 2022, surging by 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a abrupt setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Worked Wax Articles Exports

Exports from Austria

For the third year in a row, Austria recorded decline in shipments abroad of worked articles of wax, which decreased by -21.8% to X units in 2022. In general, exports recorded a abrupt decline. The growth pace was the most rapid in 2019 when exports increased by 103% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, worked wax articles exports declined notably to $X in 2022. Over the period under review, exports saw a mild shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 128% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units), Slovenia (X units) and Italy (X units) were the main destinations of worked wax articles exports from Austria, with a combined 74% share of total exports. Switzerland, Slovakia, Poland and Spain lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +43.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for worked articles of wax exports from Austria, comprising 43% of total exports. The second position in the ranking was held by Slovenia ($X), with a 21% share of total exports. It was followed by Italy, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (-6.0% per year) and Italy (-1.4% per year).

Export Prices by Country

The average worked wax articles export price stood at $X per thousand units in 2022, which is down by -7.5% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, worked wax articles export price increased by +96.2% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of 64% against the previous year. As a result, the export price reached the peak level of $X per thousand units. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per thousand units), while the average price for exports to Slovakia ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+85.6%), while the prices for the other major destinations experienced mixed trend patterns.

Worked Wax Articles Imports

Imports into Austria

Worked wax articles imports into Austria expanded notably to X units in 2022, increasing by 13% against 2021. Overall, imports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 when imports increased by 77%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, worked wax articles imports soared to $X in 2022. In general, imports, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 43%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X units) constituted the largest worked wax articles supplier to Austria, accounting for a 55% share of total imports. Moreover, worked wax articles imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Spain (X units) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium amounted to -11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and Spain (-23.4% per year).

In value terms, Belgium ($X), Germany ($X) and Croatia ($X) were the largest worked wax articles suppliers to Austria, together accounting for 85% of total imports.

Among the main suppliers, Croatia, with a CAGR of +39.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average worked wax articles import price amounted to $X per thousand units, increasing by 14% against the previous year. In general, the import price posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 when the average import price increased by 70% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Croatia ($X per thousand units), while the price for Spain ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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